CWA Asset Management Group LLC Invests $863,000 in ArcelorMittal (NYSE:MT)

CWA Asset Management Group LLC acquired a new position in shares of ArcelorMittal (NYSE:MT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,928 shares of the basic materials company's stock, valued at approximately $863,000.

Several other hedge funds have also made changes to their positions in MT. Bank of New York Mellon Corp boosted its holdings in shares of ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of ArcelorMittal by 146.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after purchasing an additional 912,984 shares during the last quarter. OLD Mission Capital LLC boosted its holdings in shares of ArcelorMittal by 145.8% during the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock worth $15,690,000 after purchasing an additional 402,402 shares during the last quarter. Bank of America Corp DE boosted its holdings in ArcelorMittal by 56.7% in the fourth quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company's stock valued at $18,140,000 after acquiring an additional 283,758 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock valued at $26,690,000 after acquiring an additional 277,891 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MT shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Jefferies Financial Group lowered ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price objective for the company from $29.00 to $31.70 in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, ArcelorMittal has a consensus rating of "Moderate Buy" and a consensus price target of $32.95.

ArcelorMittal Stock Up 1.9%

NYSE:MT traded up $0.57 during mid-day trading on Monday, hitting $30.54. The company had a trading volume of 913,983 shares, compared to its average volume of 1,843,841. The business has a fifty day simple moving average of $30.02 and a 200-day simple moving average of $27.79. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $34.90. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 0.14 and a beta of 1.65.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.71 by $0.33. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same period last year, the company posted $1.16 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. Equities analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.2338 per share. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 16th. ArcelorMittal's payout ratio is 30.72%.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.